Peru's Superintendency of Banking, Insurance and Pension Funds Administrators (SBS) issued Resolution No. 0907-2025 allowing pension fund administrators (AFPs) to invest pension fund assets in local equity participation instruments or shares placed through private offerings, where the issuance is intended to be registered on the stock exchange and specified conditions are met. The conditions include a minimum issuance value of USD 80 million, an independent valuation, placement and trading through mechanisms established under the Private Pension System (SPP) rules, and the issuer’s commitment to list the securities within three years, supported by the corresponding safeguards and or guarantees.